New property values don't necessarily mean higher tax bills

A countywide property revaluation doesn’t automatically mean higher tax bills for Burke County homeowners, and the document commissioners are preparing to approve won’t determine how much residents pay.

Instead, the proposed Schedule of Values (SoV) establishes the methods the county will use to calculate property assessments for 2027.

Burke County Tax Administrator Travis Isaacs describes it as a “recipe book” for determining property values, not a decision about tax rates or revenue.

It focuses on the methodology of the calculations, which will be used to develop tax value assessments expected to be sent out to residents around February.

Revaluation does not automatically mean property taxes will increase or decrease. It means the county is updating property values to reflect current market prices. State law requires counties to reassess property values at least every eight years, although Burke County follows a four-year schedule, making its next revaluation due in 2027.

The need for updated values is also reflected in recent property sales. In July, Isaacs said the county’s 2025 sales ratio was 78.91%, meaning properties were assessed at about 79% of their actual sale prices. That falls below the state’s 85% threshold, indicating that assessed values have not kept pace with the real estate market.

The SoV comes back to the commissioners during their meeting on Monday, Nov. 16, where a public hearing will be held and they will vote to adopt or not adopt the updated schedule.

A notice of adoption will run for four consecutive weeks. Property owners in the county can submit an appeal to the Property Tax Commission within 30 days of the date the adoption is first published, disputing the validity of the SoV appraisal standards.

WHAT DOES THE SCHEDULE OF VALUES INCLUDE?

Inside the SoV is a reflection of the market between the beginning of 2023 and the end of 2026, how the value is built through property record cards, and how the result is tested through accuracy and uniformity standards.

Median home sale prices between the beginning of January 2023 and July 2026 saw a steady incline, peaking around $275,000 in February 2026 before dropping back down to $265,000 by July.

“We also see there’s more houses on the market,” Isaacs said at the October commissioners meeting. “There’s more supply than there was. Those prices will typically flatten or drop a little bit to increase sales.”

Vacant land saw an increase in sales at higher prices than in 2023, outpacing housing as the economy softened, said Isaacs. The population only grew by 1.2% between January 2023 and late 2026, and a large portion of the purchases traced back to property around the lakes.

Values rose the fastest at Lake James, Lake Rhodhiss, Lake Hickory, and the mountain areas.

“What that means is a lot of our buyers came from outside of the county,” Isaacs said. “A lot of influx from outside the county instead of inside. … Expect an uneven change. Some market areas will go up, and some will go down. Some will stay flat. That doesn’t mean your tax bill goes up or down. We just have to make sure we put a market value as of Jan. 1, 2027.”

Nearly a third of the parcels in Burke County are exempt, including the Pisgah National Forest, South Mountains State Park, Lake James State Park, the hospitals, and property owned by religious, educational, and other qualifying organizations.

“Burke County is unique in this regard where a lot of our property is exempt property,” said Namrita Nelson, the property valuation manager for the county, during the Tax Revaluation Task Force meeting in September. “That taxable base is smaller in Burke County than some of the adjoining counties.”

Isaacs presented an example of how the SoV will be applied using a Silver Creek property. The county will combine the assessed value of the land, based on size and local sales value; the dwelling, based on size, bathrooms, and attachments; and miscellaneous improvements like sheds and unattached property, to determine a value.

PUBLIC ENGAGEMENT

Property owners can play an important role in ensuring their assessments are accurate by reviewing the information the county has on file. Property records include details used to calculate values, such as a home’s size and features, along with assessments of its condition, construction quality, and land characteristics.

By visiting gis.burkenc.org and entering an address in the field on the left of the page, property owners can access their property record card.

While the information displayed is based on the 2023 valuations, residents should ensure that the buildings, bedrooms, and other details are accurate, as the revaluation team will be basing tax assessments on these using the SoV, come January.

Isaacs and Nelson said property owners should report any errors in their property records in January, allowing the county time to make corrections before tax bills are calculated later in the year.